C.P. Vietnam and PAN Group cooperate in strategic development of seafood value chain

C.P. Vietnam and PAN Group cooperate in strategic development of seafood value chain

Yesterday (December 9), The PAN Group (HoSE: PAN) and C.P. Vietnam have just signed a strategic cooperation agreement committing to support each other in expanding and developing business activities, exploiting the most potential market, strengths in the traditional business of each party, as well as promoting the sustainable development of value chains, including the value chain of the shrimp industry.

The two sides also pledged to jointly support Sao Ta Food JSC (HoSE: FMC) (Fimex VN), a member of the PAN Group, to complete the process and improve the efficiency of shrimp farming, expand shrimp farming areas, and diversify products output and expand export markets.

With the strength in shrimp production and feed, C.P. Vietnam is committed to timely and fully supporting shrimp farming materials such as seed, feed, shrimp farming products… for its farming area member companies of The PAN Group.

Meanwhile, The PAN Group with the strength of effective shrimp farming and high-quality shrimp processing, and its member companies are ready to transfer and share experience, shrimp farming, and processing processes; give priority to using C.P. Vietnam’s shrimp breeding stock, feed, and products.

The two sides are committed to working together in activities for the environment and the community, towards the 11 United Nations Sustainable Development Goals (SDGs) by 2030, in line with each party's sustainable development strategy and needs through specific projects.

C.P. Vietnam's capital investment 25 per cent stake in Fimex VN

Nguyen Thi Tra My, general director of The PAN Group, shared that the cooperation between the PAN Group and C.P. Vietnam is a cooperation between two units that have similarities in agricultural development strategy towards modernity and sustainability. “The cooperation process will open up many other opportunities, as well as bring benefits not only to the two sides but also the shrimp industry and Vietnam’s agriculture in general."

Montri Suwanposri, chairman and general director of C.P. Vietnam said that combining with Sao Ta Foods will create synergistic values ​​for both businesses. Thereby joining hands to contribute to the achievement of the Government’s target of 1.15 million tons of shrimp farming from now to 2025. “Our goal when investing is to jointly develop Sao Ta to become a leading enterprise in the industry and compete with major shrimp exporting countries in the world,” said Montri Suwanposri.

Nikorndej Balankura, Ambassador Extraordinary and Plenipotentiary and Plenipotentiary of the Kingdom of Thailand in Vietnam, said that the signing ceremony of the cooperation agreement between The PAN Group and C.P. Vietnam shows the cooperative relationship in trade and investment between Thailand and Vietnam are on the rise. Thereby, promoting economic development based on agricultural development, the foundation of Thailand and Vietnam's economy ensures food security at national, regional, and world levels.

Also, on December 9, 2021, The PAN Group and C.P. Vietnam signed an MoU to cooperate in a sustainable development program to increase mangrove forest cover in the Mekong Delta. The International Union runs the program for Conservation of Nature (IUCN).

The programme contributes to the protection of land resources, water resources, disaster reduction, climate change, and livelihood development for local communities. The two sides contribute funding for the project with a total cost of $200,000 in the 2022-2023 period.